Tag Archives: eurogroup

The Eurogroup gave the green light on Monday for the disbursement of the fourth tranche of the European Stability Mechanism (ESM) program for Greece, totaling 6.7 billion euros, following a meeting of the Eurozone’s finance ministers in Brussels. The Eurogroup said the funding will be paid out in two tranches, …

Portugal’s Finance Minister, socialist Mario Centeno won the Eurogroup presidency in two rounds of voting in Brussels Monday afternoon! The Latvian and Slovak finance ministers dropped out after the first round. Centeno won in a head to head against Luxemburg’s Pierre Gramegna. 51-year-old Mario Centeno is an economist and academic …

October 11, 2017EconomyComments Off on Dijsselbloem announces he is quitting Dutch politics, stay as Eurogroup head until…

Dutch Finance Minister Jeroen Dijsselbloem announced that he will quit national politics as of Oct 25th, but he will stay on as the Eurogroup head until January 2018. He was caretaker finance minister after his party suffered big losses in the national elections in March. He will also quit the …

O M G! Is it true that Greek finance minister Euclid Tsakalotos trolled his ex German counterpart Wolfgang Schaeuble during the Farewell at the Eurogroup? “Nothing will be quite the same again.” Some like Mehreen Khan of Financial Times, say he did. Here is what Tsakalotos wrote on the European …

October 9, 2017EconomyComments Off on Eurogroup says farewell to Schaeuble, first time Greece not on the agenda

It was the first Eurogroup meeting without Greece being on the agenda and the last Eurogroup meeting for outgoing German finance Minister Wolfgang Schaeuble. End of an era. End of the Schaeuble era. His colleagues paid tribute to the longest serving member. They signed on an European Union flag and …

September 25, 2017EconomyComments Off on Greece to remain under supervision after bailout program ends, says Dijsselbloem

“Greece will remain under supervision after it exits its current bailout programme next year,” Eurogroup head Jeroen Dijsselbloem told a Greek newspaper short before arriving in Athens on Monday. Prime minister Alexis Tsipras has been telling Greeks that ‘creditors’ supervision will be over once the bailout program concludes in August …

September 15, 2017EconomyComments Off on A Eurogroup without whining about a Greek ‘something’ is half the joy…

As if we did not have enough trouble with the oil spill, a long-time-not-seen Eurogroup meeting took place in Tallinn, Estonia, today. Greece’s lenders came together to catch up with the struggling country. Top on the agenda was the implementation of the Greek program and the third review. Eurogroup head …

HURAAH! HURRAH! The European Stability Mechanism approved the third bailout tranche of €8.5 billion new loan to Greece. The large part of the ESM financial assistance, €7.7billion, is expected to be made by the ESM on Monday. The rest €0.8 billion may be made after 1 September 2017 provided Greece …

European Commissioner for Economic and Financial Affairs, Pierre Moscovici, said that Greece needs to still legislate a few more fiscal measures but also measures to modernize the public administration and state services. He did acknowledge that the bulk of austerity measures Greece legislated in May were sufficient for the country …

Greece bowed to Spanish blackmail and granted immunity to three former members of the country’s privatization agency. Right after the Eurogroup agreement last week, Spanish Finance Minister Luis de Guintos had threatened to block the disbursement of 8.5 billion euro bailout tranche, if the ex HRADF members would not be …

This is one of the glorious moments of bottomless populism and the absolute absence of culture and knowledge of culture. I am writing this not because I feel offended reading that a far-right Dutch populist claims Greeks spend the money on souvlaki and ouzo. His compatriot, the so-called social-democrat Jeroen …

Prime Minister Alexis Tsipras addressed Greeks on Friday about the Eurogroup agreement. In a televised address on state broadcaster ERT TV, Tsipras said “Greece got what it wanted from the institutions, which was an agreement that will point the way for the country’s exit from supervision.” “The road for a …

For the Greek government the deal at the Eurogroup is a success. The markets see it positive but with caution. The common people remain desperate and wonder how and whether the deal will improve their lives. And some simply feel confused about the agreement. The Government “Greece is turning a …

Eurogroup and Greece agreed: Second review concluded, a bailout tranche of 8.5 billion euro, a clause for growth, debt relief measures to be discussed at the end of the program “if necessary” IMF stays in the program without financing for now. Pierre Moscovici‏Verified account @pierremoscovici Tonight, #Greece can see the light …

Eurogroup chairman Jeroen Dijsselbloem told reporters on Thursday that the Greek debt issue will be bumped to 2018, while a long-overdue second review of the Greek bailout will be achieved at a same-day Eurogroup meeting. The Eurogroup head and Dutch finance minister made the comments just before entering a session …

“Poor Alexis Tsipras”, “Greece’s debt relief is hostage to Berlin’s elections politics”, “Greece is Germany’s de facto colony.” Based on an interview with Polish Foreign Minister Witold Waszczykowski, where he explains why Poland does not want to join the Eurozone, Politico EU writes, among others: From the beginning of the …

June 14, 2017Greece, PoliticsComments Off on Greek Gov’t: We are far from finding a solution at the Eurogroup on Thursday

It is usually German Finance Minister Wolfgang Schaeuble who claims pessimism on solution ahead of crucial Eurogroup meetings. This time – for a change – it is the Greek government. “We are far from finding a solution at the Eurogroup on Thursday, given that Germany has not taken any progress …

A rare day of positive karma for German Finance Minister Wolfgang Schaeuble. He said on Tuesday he was confident that Greece and its international lenders will reach a compromise deal this week, a step that would unleash more loans for Athens. “We’ll manage it on Thursday. You’ll see,” Schaeuble said …

The European Central Bank is unlikely to include Greek bonds in its asset-purchase program for the foreseeable future, a person familiar with the matter said, as European creditors aren’t prepared to offer substantially easier repayment terms on bailout loans to improve the nation’s debt outlook. Lack of clarity on debt …

June 13, 2017Greece, PoliticsComments Off on Solution at Eurogroup? Only with Le Maire’s lucky amulet and Greek Gods’ help

When logic does not help, desperate people turn to superstition. French fiance minister Bruno Le Maire brought a groundbreaking proposal to Athens, a proposal aiming to break the deadlock between Germany and the International Monetary Fund on the Greek debt relief issue. However, Le Maire’s plan is “too complex” and …